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美国3月就业增长超出预期

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2025-04-04 12:44:27

美国3月非农就业数据超预期增长,但贸易政策阴云或冲击劳动力市场



美国劳工部最新数据显示,3月非农就业岗位激增22.8万个,显著超出市场预期。然而失业率微升0.1个百分点至4.2%,反映出劳动力市场存在结构性压力。



关键风险点:

- 特朗普政府关税政策引发商业信心指数持续下滑

- 股市大规模抛售潮显示市场避险情绪升温

- 经济学家预警4月就业数据或将反映关税冲击



行业预警:

零售业就业可能首当其冲,因消费者因物价上涨缩减开支。美联储政策转向预期增强,市场押注6月前重启降息,反映对经济前景的担忧。



对投资者的影响:

1. 警惕防御性板块轮动:必需消费品、公用事业类股或受青睐

2. 利率敏感资产重估:债券收益率下行压力增大

3. 贸易战避险需求:黄金等避险资产配置价值提升

4. 零售业财报风险:需密切关注同店销售等关键指标

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